K2 Infragen IPO vs Ramdevbaba Solvent IPO

Comparison between K2 Infragen IPO and Ramdevbaba Solvent IPO.

IPO Details

K2 Infragen IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Ramdevbaba Solvent IPO is a SME Bookbuilding proposed to list at NSE SME.

	K2 Infragen IPO	Ramdevbaba Solvent IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	NSE SME	NSE SME
Lead Managers	Expert Global Consultants Pvt.Ltd.	Choice Capital Advisors Pvt.Ltd.
Registrar	Kfin Technologies Ltd.	Bigshare Services Pvt.Ltd.
Market Maker	Rikhav Securities Ltd.	Choice Equity Broking Pvt.Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of K2 Infragen IPO is up to ₹37.57 Cr whereas the issue size of the Ramdevbaba Solvent IPO is up to ₹47.60 Cr. The final issue price of K2 Infragen IPO is ₹119.00 per share and of Ramdevbaba Solvent IPO is ₹85.00 per share.

	K2 Infragen IPO	Ramdevbaba Solvent IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹111.00 per share	₹80.00 per share
Issue Price (Upper)	₹119.00 per share	₹85.00 per share
Issue Price (Final)	₹119.00 per share	₹85.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1200 shares	1600 shares
Fresh Issue Size	31,57,200 shares	56,00,000 shares
Fresh Issue Size (Amount)	up to ₹37.57 Cr	up to ₹47.60 Cr
OFS Issue Size	0 shares	0 shares
OFS Issue Size (Amount)	up to ₹0.00 Cr	up to ₹0.00 Cr
Issue Size Total	31,57,200 shares	56,00,000 shares
Issue Size Total (Amount)	up to ₹37.57 Cr	up to ₹47.60 Cr

IPO Timetable

K2 Infragen IPO opens on Mar 28, 2024, while Ramdevbaba Solvent IPO opens on Apr 15, 2024. The closing date of K2 Infragen IPO and Ramdevbaba Solvent IPO is Apr 03, 2024, and Apr 18, 2024, respectively.

	K2 Infragen IPO	Ramdevbaba Solvent IPO
Anchor Bid Date	Mar 27, 2024	Apr 12, 2024
Issue Open	Mar 28, 2024	Apr 15, 2024
Issue Close	Apr 03, 2024	Apr 18, 2024
Basis Of Allotment (Tentative)	Apr 04, 2024	Apr 19, 2024
Initiation of Refunds (Tentative)	Apr 05, 2024	Apr 22, 2024
Credit of Share (Tentative)	Apr 05, 2024	Apr 22, 2024
Listing date (Tentative)	Apr 08, 2024	Apr 23, 2024
Anchor Lockin End date 1	May 04, 2024	May 19, 2024
Anchor Lockin End date 2	Jul 03, 2024	Jul 18, 2024

Financials & KPIs

K2 Infragen IPO P/E ratio is 9.68, as compared to Ramdevbaba Solvent IPO P/E ratio of 10.6.

K2 Infragen IPO

Ramdevbaba Solvent IPO

Financials

K2 Infragen Limited Financial Information (Restated Consolidated)

K2 Infragen Limited's revenue increased by 103.25% and profit after tax (PAT) rose by 463.79% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	6,378.79	5,690.40	2,591.14	2,220.52
Total Income	5,967.98	7,490.08	3,685.20	3,568.05
Profit After Tax	607.45	1,132.32	-311.26	22.49
Net Worth	2,535.32	1,392.45	133.84	115.49
Reserves and Surplus	1,611.24	1,165.10	-96.26	-46.56
Amount in ₹ Lakhs

Ramdevbaba Solvent Limited Financial Information (Restated)

Ramdevbaba Solvent Limited's revenue increased by 20.35% and profit after tax (PAT) rose by 97.25% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	20,341.24	19,062.61	13,134.86	10,125.05
Total Income	46,569.81	70,433.41	58,525.46	42,717.32
Profit After Tax	828.90	1,300.15	659.15	617.06
Net Worth	6,857.15	4,783.25	3,483.10	2,823.95
Reserves and Surplus	5,235.97	4,324.52	3,024.37	2,365.22
Total Borrowing	9,998.78	9,922.63	6,485.67	4,474.16
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

55.29

81.01

Promoter Shareholding (Post-Issue)

40.36

P/E Ratio

9.68

10.6

Market Cap

₹150.16 Cr.

₹188.07 Cr.

ROE

23.96%

ROCE

19.91%

10.76%

Debt/Equity

0.87

1.46

EPS

₹12.29

₹8.02

RoNW

23.9%

14.24%

Shares Offered

In the K2 Infragen IPO Retail Individual Investors (RII) are offered 11,05,200 shares while in Ramdevbaba Solvent IPO retail investors are offered 11,05,200 shares. Qualified Institutional Buyers (QIB) are offered 6,31,200 shares in K2 Infragen IPO and 11,20,000 shares in Ramdevbaba Solvent IPO.

	K2 Infragen IPO	Ramdevbaba Solvent IPO
Anchor Investor Reserveration	9,46,800 shares	16,80,000 shares
Market Maker Reserveration	2,49,600 shares	3,13,600 shares
QIB	6,31,200 shares	11,20,000 shares
NII	4,74,000 shares	8,40,000 shares
RII	11,05,200 shares	19,60,000 shares
Employee
Others
Total	31,57,200 shares	56,00,000 shares

Bids Received (Subscription)

K2 Infragen IPO subscribed 51.47x in total, whereas Ramdevbaba Solvent IPO subscribed 126.21x.

	K2 Infragen IPO	Ramdevbaba Solvent IPO
QIB (times)	23.37x	65.95x
NII (times)	113.98x	314.46x
Big NII (times)
Small NII (times)
RII (times)	40.70x	79.96x
Employee (times)
Other (times)
Total (times)	51.47x	126.21x

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